forces, one shouldn't be too surprised to see stocks take a bit of a break. If we are still withing a bull
market (and the higher time frames seems to continue to support that notion) one ought to consider The Optimal Trade Entry ( OTE
) long sweet spot (178.43) as an interesting level. We are heading into a tough seasonal
window here and a pullback seems very likely. A move back into that area would represent about a 5% correction which in my opinion is very normal (and healthy). That area too is well within normal extension targets off this diamond price pattern, against an existing trend line
and an area with a nice gap to be filled. Should the bull
really fall apart (which I don't expect) price may have to go take out the February lows. Should that level be broken in earnest I would regrettable have to walk away from the long setup mentioned.
Cheers all and I hope my simple analysis is of benefit...
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